Transport Secretary Grant Shapps has said that a government-backed bailout of Thomas Cook “was not really a goer.”
Shapps told ITV’s Good Morning Britain, “The company were asking for up to £250m. They needed about £900m on top of that and they’ve got debts of £1.7bn, so they idea of just spending taxpayers’ money on that just wasn’t really a goer.”
He added, “I think the problem of putting money into it – apart from the fact governments don’t usually go around investing in travel companies – is that it may have just stretched things out for a couple of weeks and we could have been exactly where we started.”
Leave a Comment